Ndtv Q2-09 Results
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NEW DELHI TELEVISION LIMITED Regd Office : 207,Okhla Industrial Estate, Phase-III New Delhi - 110020
(Rs. in Lacs except per share data)
CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2008
Particulars
Sl No
A
B
C
D
Three Months Ended Sept 30-08
Three Months Ended Sept 30-07
Six Months Ended Sept 30-08
Six Months Ended Sept 30-07
Audited
Audited
Audited
Audited
E Year Ended March 31-08
Audited
1 Income from Operations
12,027
7,174
23,968
14,189
2 Expenditure a.Production Expenses b.Personnel Expenses c.Special employee bonus d.Marketing, Distribution & Promotional Expenses e.Operating & Administrative Expenses f. Depreciation Total Expenditure
7,022 5,217 55 5,795 4,286 748 23,123
1,997 3,345 64 1,537 1,895 521 9,359
14,007 10,101 55 11,514 7,827 1,453 44,957
3,345 6,450 851 2,718 3,231 1,017 17,612
12,165 14,845 906 12,560 9,924 2,309 52,709
(11,096)
(2,185)
(20,989)
(3,423)
(16,096)
Profit/(Loss) From Operations Before Other 3 Income,Interest & Exceptional Items(1-2) 4 Other Income
Profit/(Loss) Before Interest & Exceptional Items 5 (3+4)
764
575
1,186
929
2,181
(10,332)
(1,610)
(19,803)
(2,494)
(13,915)
6 Interest Cost
Profit/(Loss) After Interest but before Exceptional 7 Items (5-6) 8 Exceptional Items
10 Cost of stock options
784
2,419
(3,278)
(16,334)
-
42 (134) 58
(11,932)
(2,408)
-
(22,114) 1,277
-
26 22 (658) 265
14 Share of Minority Interest 15 Share in Profit/(Loss) of Associate
Notes :
2,311 (22,114)
(2,189) 253
-
12 Tax Expense - Current - Tax for Earlier Years - Deferred - Fringe Benefit Tax
19 Paid -up Equity Share Capital (Face value Rs 4/- per share) 20 Reserves (Excluding Revaluation Reserve) 21 Earnings Per Share (of Rs.4/-each) Before Extraordinary Items - Basic - Diluted After Extraordinary Items - Basic - Diluted 22 Dividend per share (face value of Rs.4 per share) Final Dividend (Rs. per share) Dividend percentage 23 Aggregate of Public Shareholding - No. of equity shares of Rs 4/- each - percentage of Shareholding
579 (2,189)
(11,628) 649
11 Amount arising on dilution of stake in a subsidiary (See Note -3 )
16 Net Profit/(Loss) From Ordinary Activities After Tax (13-14-15) 17 Extraordinary Item 18 Net Profit/(Loss) For The Period (16-17)
1,296 (11,628) -
Profit/(Loss) From Ordinary Activities Before Tax 9 (7-8)
13 Net Profit/(Loss) From Ordinary Activities after Tax Before Minority Interest and Share in Associate (910-11-12)
36,613
-
(3,278) 587
64,253
(16,334) 1,350
-
96 22 (510) 703
40,551
390 179 312
(3,900)
(18,565)
6 -
26 (93)
(5) (107)
(21) (313)
(11,938)
(2,527)
40,726
(4,002)
(18,857)
(11,938)
(2,527)
40,726
(4,002)
(18,857)
2,506
2,501
2,506
2,501
-
-
(19.07) (19.07) (19.07) (19.07)
(175) -
-
140 (212) 107
-
(4.04) (4.04) (4.04) (4.04)
65.07 63.20 65.07 63.20
2,503
-
(17,308)
(6.40) (6.40) (6.40) (6.40)
(30.16) (30.16) (30.16) (30.16) 0.80 20%
23,039,364 36.77%
29,217,772 46.73%
23,039,364 36.77%
29,217,772 46.73%
24,439,017 39.05%
1
The Board of Directors at their meeting held on October 1, 2008 has approved the Scheme of Arrangement ('the Scheme') for demerger of the News businesses of the Company. Accordingly, the Company will be split into two groups of companies: one group of companies will carry out 'News and Other Businesses' and the other group of companies will carry out 'Entertainment and Specified Allied Businesses'. This demerger will be carried out pursuant to Section 391 to 394 read with sections 78, 100 to 103 of the Companies Act, 1956. After the demerger, for every one share currently held in the Company, a shareholder will hold one share in each company i.e. one share in the 'News and Other businesses' Company and one share in the 'Entertainment and Specified Allied Businesses' Company.The Appointed Date for the Scheme will be 1st April, 2009. The Scheme is subject to the approval of the Hon'ble High Court Of Delhi and other requisite approvals.
2
The financial results have been taken on record by the Board of Directors in its meeting held on October 14, 2008. The financial results are audited and the auditors' report contains no qualification.The auditors report on the consolidated financial statements for the year ended March 31, 2008 contains no qualification other than remuneration of Rs. 254 Lacs paid to the directors including directors of its subsidiaries for the years ended March 31,2008 and March 31,2007 which is subject to Central Government approval due to inadequacy of profits. Additionally, 100,000 stock options of the Company granted in previous year and 35,278 shares of its subsidiaries granted is subject to approval of the shareholders of the respective companies. During the quarter, the Company has received the necessary approvals in respect of remuneration paid amounting to Rs.51 lacs for the year ended March 31, 2008 and grant of 100,000 stock options to one of its directors. In respect of the remaining cases the Company has initiated the process for obtaining the requisite approvals.
3
During the quarter ended June 30, 2008, the Group entered into a share subscription agreement with Universal Studios International B.V. and NBC Universal Inc. for subscription of 915,498 shares into the said overseas subsidiary for an amount of US$ 150 million (Rs,64,253 lacs) resulting in effective dilution of the Group's stake in the downstream subsidiaries from 100% to 74%.
4 5
The Company currently operates primarily in a single segment of television media and accordingly, there is no separate reportable segment. As per the terms of Clause 41 of the Listing Agreement, given below is the information on investor complaints for the quarter ended September 30, 2008: Pending at the beginning of the quarter
6 7 8
Received during the quarter
Disposed of during the quarter
Nil 9 9 During the quarter and half year ended September 30, 2008, the Company has issued 73,065 shares pursuant to the exercise of stock option by certain employees under the ESOP scheme. Previous period figures have been regrouped/recast wherever considered necessary. The above results are the consolidated financial results for the quarter and half year ended September 30, 2008. The standalone financial results for the quarter and the half year ended September 30, 2008 are available on the Company's website www.ndtv.com/Investors and also on the website of National stock Exchange, www.nseindia.com and Bombay Stock Exchange, www.bseindia.com. For and On Behalf of Directors
Place: New Delhi Date: October 14, 2008
Chairman
0
NEW DELHI TELEVISION LIMITED Regd Office : 207,Okhla Industrial Estate, Phase-III New Delhi - 110020
(Rs. in Lacs except per share data)
AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2008
Particulars
Sl No
A
B
C
D
Three Months Ended Sept 30-08
Three Months Ended Sept 30-07
Six Months Ended Sept 30-08
Six Months Ended Sept 30-07
Audited
Audited
Audited
Audited
E Year Ended March 31-08
Audited
1 Income from Operations
7,391
6,777
14,364
12,873
30,562
2 Expenditure a.Production Expenses b.Personnel Expenses c.Special employee bonus d.Marketing, Distribution & Promotional Expenses e.Operating & Administrative Expenses f. Depreciation Total Expenditure
1,485 2,869 2,110 1,950 588 9,002
1,641 2,195 14 1,029 1,646 468 6,993
2,829 5,628 4,249 3,689 1,161 17,556
2,944 4,321 14 2,210 2,700 921 13,110
6,061 9,575 14 6,094 5,581 2,038 29,363
(1,611)
(216)
(3,192)
(237)
1,199
229
14
2,810
106
1,288
(1,382)
(202)
(382)
(131)
2,487
3 Profit/(Loss) From Operations Before Other Income,Interest & Exceptional Items(1-2) 4 Other Income
5 Profit/(Loss) Before Interest & Exceptional Items (3+4) 6 Interest Cost
7 Profit/(Loss) After Interest But Before Exceptional Items (5-6) 8 Exceptional Items
10 Cost of stock options 11 Tax Expense - Current - Tax for Earlier Years - Deferred - Fringe Benefit Tax
12 Net Profit/(Loss) from Ordinary Activities After Tax (9-10-11) 13 Extraordinary Item
Notes :
64
648
89
385
(266)
(1,030)
(220)
2,102
-
-
-
(1,731) 151
(266) 231
(1,030) 434
(220) 532
(645) 67
(149) 47
(493) 125
(230) 87
(1,304)
(395)
(1,096)
(609)
-
14 Net Profit/(Loss) For The Period (12-13)
15 Paid -up Equity Share Capital (Face value Rs 4/- per share) 16 Reserves (Excluding Revaluation Reserve) 17 Earnings Per Share (of Rs.4/-each) Before Extraordinary Items - Basic - Diluted After Extraordinary Items - Basic - Diluted 18 Dividend per share (face value of Rs.4 per share) Final Dividend (Rs. per share) Dividend percentage 17 Aggregate of Public Shareholding - No. of equity shares of Rs 4/- each - percentage of Shareholding
349 (1,731) -
9 Profit/(Loss) From Ordinary Activities Before Tax (7-8)
-
-
2,102 1,183 90 (4) 183 222
428
-
-
(1,304)
(395)
(1,096)
(609)
428
2,506
2,501
2,506
2,501
2,503
-
-
(2.08) (2.08) (2.08) (2.08)
-
(0.63) (0.63) (0.63) (0.63)
-
(1.75) (1.75) (1.75) (1.75)
2,104
(0.98) (0.98) (0.98) (0.98)
0.68 0.66 0.68 0.66 0.80 20%
23,039,364 36.77%
29,217,772 46.73%
23,039,364 36.77%
29,217,772 46.73%
24,439,017 39.05%
1
The Board of Directors at their meeting held on October 1, 2008 has approved the Scheme of Arrangement ('the Scheme') for demerger of the News businesses of the Company. Accordingly, the Company will be split into two groups of companies: one group of companies will carry out 'News and Other Businesses' and the other group of companies will carry out 'Entertainment and Specified Allied Businesses'. This demerger will be carried out pursuant to Section 391 to 394 read with sections 78, 100 to 103 of the Companies Act, 1956. After the demerger, for every one share currently held in the Company, a shareholder will hold one share in each company i.e. one share in the 'News and Other businesses' Company and one share in the 'Entertainment and Specified Allied Businesses' Company.The Appointed Date for the Scheme will be 1st April, 2009. The Scheme is subject to the approval of the Hon'ble High Court Of Delhi and other requisite approvals.
2
Subject to necessary approvals, during the quarter ended June 30, 2008, the Company decided to transfer the business of Metronation Delhi Channel to its wholly owned subsidiary NDTV News Limited (NNL) with effect from April 1, 2008. Pending such approvals the Company and NNL have entered into an agreement to outsource various activities related to the Channel to NNL. However, in view of the proposed demerger, the Company has decided not to execute the transfer but continue with the outsourcing arrangements until demerger. Accordingly, the standalone results for the quarter (Col A )and the half year (Col C) ended September 30,2008 include recovery of costs amounting to Rs.368 lacs (net) (previous period Nil) and Rs.740 lacs (net) (previous period Nil) respectively from NNL.
3
The income from operations includes income of Rs.704 lacs (previous period Rs.666 lacs) for the quarter ended September 30, 2008 (Col A) and Rs.1574 lacs (previous period Rs.930 lacs) for the half year ended September 30, 2008 (Col C) charged from subsidiaries towards the shared services provided by the Company. Other Income for the half year ended September 30,2008 (Col C) includes income from consultancy for an amount of Rs 2,410 lacs, towards services provided by the Company to its subsidiary in connection with dilution of stake in a subsidiary (previous period Nil).
4
The financial results have been taken on record by the Board of Directors in its meeting held on October 14, 2008. The financial results are audited and the auditors' report contains no qualification. The auditors report on the the standalone financial statements for the year ended March 31, 2008 contains no qualification other than remuneration of Rs.113 lacs paid to the directors for the years ended March 31,2008 and March 31,2007 which is subject to Central Government approval due to inadequacy of profits. Additionally, 100,000 stock options of the Company granted in previous year and 35,278 shares of its subsidiaries granted to a director is subject to approval of the shareholders of the respective Companies. During the quarter, the Company has received the necessary approvals in respect of remuneration paid amounting to Rs.51 lacs for the year ended March 31, 2008 and grant of 100,000 stock options to one of its directors. In respect of the remaining cases the Company has initiated the process for obtaining the requisite approvals.
5 6
The Company currently operates primarily in a single segment of television media and accordingly, there is no separate reportable segment. As per the terms of Clause 41 of the Listing Agreement, given below is the information on investor complaints for the quarter ended September 30, 2008:
7
Nil 9 9 During the quarter and half year ended September 30, 2008, the Company has issued 73,065 shares pursuant to the exercise of stock option by certain employees under the ESOP scheme.
8
Previous period figures have been regrouped/recast wherever considered necessary.
Pending at the beginning of the quarter
Received during the quarter
Disposed of during the quarter
For and On Behalf of Directors Place: New Delhi Date: October 14, 2008
Chairman
(Rs. in Lacs except per share data)
CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2008
Particulars
Sl No
A
B
C
D
Three Months Ended Sept 30-08
Three Months Ended Sept 30-07
Six Months Ended Sept 30-08
Six Months Ended Sept 30-07
Audited
Audited
Audited
Audited
E Year Ended March 31-08
Audited
1 Income from Operations
12,027
7,174
23,968
14,189
2 Expenditure a.Production Expenses b.Personnel Expenses c.Special employee bonus d.Marketing, Distribution & Promotional Expenses e.Operating & Administrative Expenses f. Depreciation Total Expenditure
7,022 5,217 55 5,795 4,286 748 23,123
1,997 3,345 64 1,537 1,895 521 9,359
14,007 10,101 55 11,514 7,827 1,453 44,957
3,345 6,450 851 2,718 3,231 1,017 17,612
12,165 14,845 906 12,560 9,924 2,309 52,709
(11,096)
(2,185)
(20,989)
(3,423)
(16,096)
Profit/(Loss) From Operations Before Other 3 Income,Interest & Exceptional Items(1-2) 4 Other Income
Profit/(Loss) Before Interest & Exceptional Items 5 (3+4)
764
575
1,186
929
2,181
(10,332)
(1,610)
(19,803)
(2,494)
(13,915)
6 Interest Cost
Profit/(Loss) After Interest but before Exceptional 7 Items (5-6) 8 Exceptional Items
10 Cost of stock options
784
2,419
(3,278)
(16,334)
-
42 (134) 58
(11,932)
(2,408)
-
(22,114) 1,277
-
26 22 (658) 265
14 Share of Minority Interest 15 Share in Profit/(Loss) of Associate
Notes :
2,311 (22,114)
(2,189) 253
-
12 Tax Expense - Current - Tax for Earlier Years - Deferred - Fringe Benefit Tax
19 Paid -up Equity Share Capital (Face value Rs 4/- per share) 20 Reserves (Excluding Revaluation Reserve) 21 Earnings Per Share (of Rs.4/-each) Before Extraordinary Items - Basic - Diluted After Extraordinary Items - Basic - Diluted 22 Dividend per share (face value of Rs.4 per share) Final Dividend (Rs. per share) Dividend percentage 23 Aggregate of Public Shareholding - No. of equity shares of Rs 4/- each - percentage of Shareholding
579 (2,189)
(11,628) 649
11 Amount arising on dilution of stake in a subsidiary (See Note -3 )
16 Net Profit/(Loss) From Ordinary Activities After Tax (13-14-15) 17 Extraordinary Item 18 Net Profit/(Loss) For The Period (16-17)
1,296 (11,628) -
Profit/(Loss) From Ordinary Activities Before Tax 9 (7-8)
13 Net Profit/(Loss) From Ordinary Activities after Tax Before Minority Interest and Share in Associate (910-11-12)
36,613
-
(3,278) 587
64,253
(16,334) 1,350
-
96 22 (510) 703
40,551
390 179 312
(3,900)
(18,565)
6 -
26 (93)
(5) (107)
(21) (313)
(11,938)
(2,527)
40,726
(4,002)
(18,857)
(11,938)
(2,527)
40,726
(4,002)
(18,857)
2,506
2,501
2,506
2,501
-
-
(19.07) (19.07) (19.07) (19.07)
(175) -
-
140 (212) 107
-
(4.04) (4.04) (4.04) (4.04)
65.07 63.20 65.07 63.20
2,503
-
(17,308)
(6.40) (6.40) (6.40) (6.40)
(30.16) (30.16) (30.16) (30.16) 0.80 20%
23,039,364 36.77%
29,217,772 46.73%
23,039,364 36.77%
29,217,772 46.73%
24,439,017 39.05%
1
The Board of Directors at their meeting held on October 1, 2008 has approved the Scheme of Arrangement ('the Scheme') for demerger of the News businesses of the Company. Accordingly, the Company will be split into two groups of companies: one group of companies will carry out 'News and Other Businesses' and the other group of companies will carry out 'Entertainment and Specified Allied Businesses'. This demerger will be carried out pursuant to Section 391 to 394 read with sections 78, 100 to 103 of the Companies Act, 1956. After the demerger, for every one share currently held in the Company, a shareholder will hold one share in each company i.e. one share in the 'News and Other businesses' Company and one share in the 'Entertainment and Specified Allied Businesses' Company.The Appointed Date for the Scheme will be 1st April, 2009. The Scheme is subject to the approval of the Hon'ble High Court Of Delhi and other requisite approvals.
2
The financial results have been taken on record by the Board of Directors in its meeting held on October 14, 2008. The financial results are audited and the auditors' report contains no qualification.The auditors report on the consolidated financial statements for the year ended March 31, 2008 contains no qualification other than remuneration of Rs. 254 Lacs paid to the directors including directors of its subsidiaries for the years ended March 31,2008 and March 31,2007 which is subject to Central Government approval due to inadequacy of profits. Additionally, 100,000 stock options of the Company granted in previous year and 35,278 shares of its subsidiaries granted is subject to approval of the shareholders of the respective companies. During the quarter, the Company has received the necessary approvals in respect of remuneration paid amounting to Rs.51 lacs for the year ended March 31, 2008 and grant of 100,000 stock options to one of its directors. In respect of the remaining cases the Company has initiated the process for obtaining the requisite approvals.
3
During the quarter ended June 30, 2008, the Group entered into a share subscription agreement with Universal Studios International B.V. and NBC Universal Inc. for subscription of 915,498 shares into the said overseas subsidiary for an amount of US$ 150 million (Rs,64,253 lacs) resulting in effective dilution of the Group's stake in the downstream subsidiaries from 100% to 74%.
4 5
The Company currently operates primarily in a single segment of television media and accordingly, there is no separate reportable segment. As per the terms of Clause 41 of the Listing Agreement, given below is the information on investor complaints for the quarter ended September 30, 2008: Pending at the beginning of the quarter
6 7 8
Received during the quarter
Disposed of during the quarter
Nil 9 9 During the quarter and half year ended September 30, 2008, the Company has issued 73,065 shares pursuant to the exercise of stock option by certain employees under the ESOP scheme. Previous period figures have been regrouped/recast wherever considered necessary. The above results are the consolidated financial results for the quarter and half year ended September 30, 2008. The standalone financial results for the quarter and the half year ended September 30, 2008 are available on the Company's website www.ndtv.com/Investors and also on the website of National stock Exchange, www.nseindia.com and Bombay Stock Exchange, www.bseindia.com. For and On Behalf of Directors
Place: New Delhi Date: October 14, 2008
Chairman
0
NEW DELHI TELEVISION LIMITED Regd Office : 207,Okhla Industrial Estate, Phase-III New Delhi - 110020
(Rs. in Lacs except per share data)
AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2008
Particulars
Sl No
A
B
C
D
Three Months Ended Sept 30-08
Three Months Ended Sept 30-07
Six Months Ended Sept 30-08
Six Months Ended Sept 30-07
Audited
Audited
Audited
Audited
E Year Ended March 31-08
Audited
1 Income from Operations
7,391
6,777
14,364
12,873
30,562
2 Expenditure a.Production Expenses b.Personnel Expenses c.Special employee bonus d.Marketing, Distribution & Promotional Expenses e.Operating & Administrative Expenses f. Depreciation Total Expenditure
1,485 2,869 2,110 1,950 588 9,002
1,641 2,195 14 1,029 1,646 468 6,993
2,829 5,628 4,249 3,689 1,161 17,556
2,944 4,321 14 2,210 2,700 921 13,110
6,061 9,575 14 6,094 5,581 2,038 29,363
(1,611)
(216)
(3,192)
(237)
1,199
229
14
2,810
106
1,288
(1,382)
(202)
(382)
(131)
2,487
3 Profit/(Loss) From Operations Before Other Income,Interest & Exceptional Items(1-2) 4 Other Income
5 Profit/(Loss) Before Interest & Exceptional Items (3+4) 6 Interest Cost
7 Profit/(Loss) After Interest But Before Exceptional Items (5-6) 8 Exceptional Items
10 Cost of stock options 11 Tax Expense - Current - Tax for Earlier Years - Deferred - Fringe Benefit Tax
12 Net Profit/(Loss) from Ordinary Activities After Tax (9-10-11) 13 Extraordinary Item
Notes :
64
648
89
385
(266)
(1,030)
(220)
2,102
-
-
-
(1,731) 151
(266) 231
(1,030) 434
(220) 532
(645) 67
(149) 47
(493) 125
(230) 87
(1,304)
(395)
(1,096)
(609)
-
14 Net Profit/(Loss) For The Period (12-13)
15 Paid -up Equity Share Capital (Face value Rs 4/- per share) 16 Reserves (Excluding Revaluation Reserve) 17 Earnings Per Share (of Rs.4/-each) Before Extraordinary Items - Basic - Diluted After Extraordinary Items - Basic - Diluted 18 Dividend per share (face value of Rs.4 per share) Final Dividend (Rs. per share) Dividend percentage 17 Aggregate of Public Shareholding - No. of equity shares of Rs 4/- each - percentage of Shareholding
349 (1,731) -
9 Profit/(Loss) From Ordinary Activities Before Tax (7-8)
-
-
2,102 1,183 90 (4) 183 222
428
-
-
(1,304)
(395)
(1,096)
(609)
428
2,506
2,501
2,506
2,501
2,503
-
-
(2.08) (2.08) (2.08) (2.08)
-
(0.63) (0.63) (0.63) (0.63)
-
(1.75) (1.75) (1.75) (1.75)
2,104
(0.98) (0.98) (0.98) (0.98)
0.68 0.66 0.68 0.66 0.80 20%
23,039,364 36.77%
29,217,772 46.73%
23,039,364 36.77%
29,217,772 46.73%
24,439,017 39.05%
1
The Board of Directors at their meeting held on October 1, 2008 has approved the Scheme of Arrangement ('the Scheme') for demerger of the News businesses of the Company. Accordingly, the Company will be split into two groups of companies: one group of companies will carry out 'News and Other Businesses' and the other group of companies will carry out 'Entertainment and Specified Allied Businesses'. This demerger will be carried out pursuant to Section 391 to 394 read with sections 78, 100 to 103 of the Companies Act, 1956. After the demerger, for every one share currently held in the Company, a shareholder will hold one share in each company i.e. one share in the 'News and Other businesses' Company and one share in the 'Entertainment and Specified Allied Businesses' Company.The Appointed Date for the Scheme will be 1st April, 2009. The Scheme is subject to the approval of the Hon'ble High Court Of Delhi and other requisite approvals.
2
Subject to necessary approvals, during the quarter ended June 30, 2008, the Company decided to transfer the business of Metronation Delhi Channel to its wholly owned subsidiary NDTV News Limited (NNL) with effect from April 1, 2008. Pending such approvals the Company and NNL have entered into an agreement to outsource various activities related to the Channel to NNL. However, in view of the proposed demerger, the Company has decided not to execute the transfer but continue with the outsourcing arrangements until demerger. Accordingly, the standalone results for the quarter (Col A )and the half year (Col C) ended September 30,2008 include recovery of costs amounting to Rs.368 lacs (net) (previous period Nil) and Rs.740 lacs (net) (previous period Nil) respectively from NNL.
3
The income from operations includes income of Rs.704 lacs (previous period Rs.666 lacs) for the quarter ended September 30, 2008 (Col A) and Rs.1574 lacs (previous period Rs.930 lacs) for the half year ended September 30, 2008 (Col C) charged from subsidiaries towards the shared services provided by the Company. Other Income for the half year ended September 30,2008 (Col C) includes income from consultancy for an amount of Rs 2,410 lacs, towards services provided by the Company to its subsidiary in connection with dilution of stake in a subsidiary (previous period Nil).
4
The financial results have been taken on record by the Board of Directors in its meeting held on October 14, 2008. The financial results are audited and the auditors' report contains no qualification. The auditors report on the the standalone financial statements for the year ended March 31, 2008 contains no qualification other than remuneration of Rs.113 lacs paid to the directors for the years ended March 31,2008 and March 31,2007 which is subject to Central Government approval due to inadequacy of profits. Additionally, 100,000 stock options of the Company granted in previous year and 35,278 shares of its subsidiaries granted to a director is subject to approval of the shareholders of the respective Companies. During the quarter, the Company has received the necessary approvals in respect of remuneration paid amounting to Rs.51 lacs for the year ended March 31, 2008 and grant of 100,000 stock options to one of its directors. In respect of the remaining cases the Company has initiated the process for obtaining the requisite approvals.
5 6
The Company currently operates primarily in a single segment of television media and accordingly, there is no separate reportable segment. As per the terms of Clause 41 of the Listing Agreement, given below is the information on investor complaints for the quarter ended September 30, 2008:
7
Nil 9 9 During the quarter and half year ended September 30, 2008, the Company has issued 73,065 shares pursuant to the exercise of stock option by certain employees under the ESOP scheme.
8
Previous period figures have been regrouped/recast wherever considered necessary.
Pending at the beginning of the quarter
Received during the quarter
Disposed of during the quarter
For and On Behalf of Directors Place: New Delhi Date: October 14, 2008
Chairman
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